Recorded RBI impact
License cancellation
License cancellation · Fresh imposition
Published by RBI
24 Jun 2014
Case Brief
RBI cancelled the Certificate of Registration of M/s Sahiwal Investment and Trading Company, New Delhi, a non-banking financial company. The cancellation was for carrying on the business of a non-banking financial institution, and the company is no longer permitted to transact NBFC business.
Why RBI Acted
The Reserve Bank of India cancelled the Certificate of Registration of M/s Sahiwal Investment and Trading Company, New Delhi, which is a non-banking financial company (NBFC), for carrying on the business of a non-banking financial institution. As a result of the cancellation, the company cannot transact NBFC business.
Operating Impact
The company must stop NBFC operations immediately and cannot undertake non-banking financial institution कारोबार going forward. This affects the company and any counterparties relying on its NBFC activities.
Action Facts
- Primary Impact
- License cancellation
- Entities Affected
- 1
- Entity Role
- Primary
- Entity Type
- NBFC